Why is crypto up today? Bitcoin ($BTC) hit the $100,000 mark—if only for a moment—grabbing headlines and reigniting its dominance in the market. The surge comes as cooling U.S. inflation and a wave of market optimism revive risk assets, hinting at a volatile yet pivotal year ahead for crypto.
The vibe is investors are seriously underestimating how much money will be put into crypto after Donald Trump gets in as president next week.
If the US establishes a Bitcoin reserve, the largest countries on Earth will also do it. Just be happy that you’re early. So, where does Bitcoin
Bitcoin
0.33%
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head from here?
Why do Liberals Hate Cryptocurrency?
But first, for something completely different.
Why do liberal politicians like Joe Biden, Elizabeth Warren, and former SEC chair Gary Gensler, as well as their base, hate crypto? It’s so bizarre to observe.
Midwit Redditor types feel “cheated” by Bitcoiners because of the significant sums of money they’ve made outside the system.
Trump capitalized on this. You’re supposed to make money by doing your homework, getting good grades, going to college, getting a professional job, saving money in a savings account to deposit a house, getting married at 30, and maybe having one kid by 35. Then you slave away to save for your retirement!
Bitcoin changed everything. You’re not SUPPOSED to make bank with internet funny money! It’s not how it’s supposed to work!
“But i did everything right.” You also see it in Trump’s cabinet confirmation hearings this week. Liberals are still fighting for the status quo when colleges have failed the people, public schools have failed, housing markets have failed, and everything has changed.
They worked tirelessly for decades trying to handicap us with all kinds of rules and laws, so when they see us buy Bitcoin and tiptoe around their control mechanisms, they get sassy.
Then, to top it all off, Trump anointed himself Bitcoin president. $100k BTC is just the start.
Cooling Inflation Fuels Bitcoin’s Rise
The newest Consumer Price Index numbers gave markets a breather. Core CPI edged down to 3.2% in December from November’s 3.3%, while headline inflation clung to 2.9%. Signs are stacking that the Fed’s chokehold on inflation is working, sparking rumors that the Fed might pause or even cut rates later this year.
“The December CPI data marks the removal of the last major macroeconomic barrier keeping Bitcoin below $100,000,” said Matt Mena, Crypto Research Strategist at 21Shares. “With inflation continuing to cool, the stage is set for a dovish pivot by the Federal Reserve.”
Bitcoin’s rise wasn’t an isolated event. Ether ($ETH) climbed past $3,400, and Solana ($SOL) exceeded $200.
Why Is Crypto Up Today? States Eye Bitcoin Reserves
🇺🇸 STATE OF OKLAHOMA JUST INTRODUCED A BILL FOR STRATEGIC #BITCOIN RESERVE 🤯
WILD TIMES!!! pic.twitter.com/woCibaL6VB
— Vivek⚡️ (@Vivek4real_) January 15, 2025
Bitcoin’s rally has sparked a new wave of curiosity over state-backed reserves of the cryptocurrency. Oklahoma is the latest to float legislation allowing its savings accounts to hold Bitcoin, borrowing a page from Texas, Pennsylvania, Ohio, and New Hampshire.
If lawmakers give it the green light, Bitcoin could inch closer to mainstream credibility as a fiscal asset for state coffers and federal treasuries.
“Bitcoin represents freedom from bureaucrats printing away our purchasing power,” said Oklahoma Representative Cody Maynard, who introduced the bill. “It is the ultimate store of value for those who believe in financial freedom and sound money principles.”
What’s Next for Bitcoin Price?
Favorable economics, state-driven adoption plans, somewhat of tone change from Libs, and signals of crypto-friendliness from Trump’s return could combine to make this a watershed year for Bitcoin.
Rate cuts might be in play, inflation is softening, and Bitcoin seems ready to push harder into the global market spotlight.
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